I made this tab because I couldn't see a stripped down chord and lyric version that was satisfactory.
If you want something more advanced then Neckwringer has submitted a detailed and complete tab 
with strumming patterns and lead guitar.
You can find that here: http://tabs.ultimate-guitar.com/d/david_bowie/john_im_only_dancing_ver2_tab.htm

Check it out!

   
chorus sounds 

   
better if you 

   
play it as not

            
ated below:

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|-1-|
|-2-|
|-2-|
|-0-|
|-1-|

[Intro]
Keep a G shape but quickly alternate between the B and the C on the A string. Listen to the record for timing!
     

[Verse 1]

Well, Annie's 

pretty neat, s

he always eats

 her meat

Joe is awful strong, bet your life he's putting us on
             
Oh Lordy, oh L

            
ordy, you know

   
 I need some l

oving

Oh, move me, t

ouch me

[Chorus]
            
John, I'm only


 dancing
            
She turns me o

              
n, but I'm onl

  
y dancing
             
She turns me o

              
n, don't get m

  
e wrong
         
I'm only danci

ng

*Break similar to intro*
     

[Verse 2]

Oh, shadow lov

e was quick an

d clean, life'

s a well-thumb

ed machine

I saw you watching from the stairs, you're everyone that ever cared
             
Oh, Lordy, oh 

            
Lordy, you kno

    
w I need some 

loving

Move me, touch

 me

[Chorus]
            
John, I'm only

 
 dancing
            
She turns me o

              
n, but I'm onl

  
y dancing
             
She turns me o

              
n, don't get m

  
e wrong
         
I'm only danci

ng

            
John, I'm only

 
 dancing
            
She turns me o

              
n, but I'm onl

  
y dancing
             
She turns me o

              
n, don't get m

  
e wrong
         
I'm only danci

ng

[ 
Dancing

   

   

 
Won't someone dance with me?
Touch me, ohh

***

And that's pretty much it. I hope this is useful for someone other than me. Please let 
me know if there is any
mistakes or if you play it differently!